Tag: electric rail

U.S. DOE funding boosts Parallel Systems rail AV/EV development

Posted by Kevin Jost | February 16, 2022 | Autonomy, Electrification, Simulation, Testing, Vehicles | 0 |

The agency selected the company to receive $4.5 million for advanced testing of its autonomous battery-electric rail vehicles, which the CEO discussed exclusively with Futurride last month as an alternative to on-road trucking, reducing greenhouse gas emissions and highway congestion.

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Parallel Systems aims to decarbonize and automate rail freight

Posted by Kevin Jost | January 19, 2022 | Autonomy, Business Development, Electrification, Startups, Technology, Vehicles | 0 |

Founded by former SpaceX engineers, the company just raised $49.55 million in Series A funds to help create autonomous battery-electric rail vehicles to move shipping containers cleaner, faster, safer, and more cost-effectively than traditional trains and trucks.

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